Nabamitta Is a Doctor in a Foreign Country

question 27

Multiple Choice

Nabamitta is a doctor in a foreign country.When she first began medical school the number of doctors in her country was strictly limited by the government.Although the barriers to becoming a doctor were high,she invested nearly a decade of her life attempting to get a license because she knew if she received one she would be assured of a steady stream of patients.Soon after receiving a license,however,her country eliminated all barriers to entry in medical services.The result of the deregulation will likely be _____ for past license holders such as Nabamitta.

• A)transitional gains
• B)decreased competition
• C)transitional losses
• D)a new regulatory cartel

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Definitions:

Fraud in the Execution

refers to a deceitful practice where a person is tricked into signing a document not knowing it is a contract, significantly impacting their rights.

Standard Contract

A standard contract is a pre-drafted agreement using set terms and conditions, often used in routine business transactions where negotiation is minimal or not permitted.

Unilateral Mistake

A unilateral mistake occurs when only one party to a contract is mistaken about a basic assumption on which the contract is based.

Unilateral Mistake

A misunderstanding by one party in a contract that does not affect the other party's understanding, often not providing grounds for contract cancellation.